The present invention provides a magnetic recording medium, which comprises at least one magnetic layer where ferromagnetic powder and a binder are dispersed, and said magnetic layer is placed on a non-magnetic support, whereby said binder comprises a polyurethane resin obtained through reaction of polytetramethylene glycol and short-chain diol having cyclic structure or short-chain diol having a branched side chain containing two or more carbon atoms, said polytetramethylene glycol is contained in said polyurethane resin in an amount of 35 to 60 weight %, said short-chain diol is contained in said polyurethane resin in an amount of 10 to 40 weight %, and glass transition temperature of said polyurethane resin is within the range of 30° C. to 120° C.